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Largest jump in UK unemployment since 1992
15th August 2008
Ok - it does depend on which measure one is using - but the number of people out of work in the UK jumped by over 60,000 in the 3 months to the end of June according to new figures from the Labour Force Survey. And claimant count unemployment also moved higher by 20,000. This BBC news article looks at some of the reasons. Once growth slows below two per cent, it is highly likely that the jobless total will start to climb - we are seeing this now. The key issue - especially in a week when the Bank’s latest Inflation Report was particularly gloomy on growth prospects for 2009 - is how bad will it get?
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.